A newspaper report explained the difficulty faced in Malaysia about handling price control for fuel and essential products. It appears that price control distorts the distribution of the products and cause artificial shortages.
Is there any other way to provide relief to ordinary people from high prices, apart from price controls?
During war time, the distribution of essential products were done through coupons. This is the rationing system. People can buy the products only through coupons. This system also has its problems. A black market is created for the sale of these coupons.
In today's world, there is a better system to handle this problem. It involves the use of low-cost technology.
Anyone like to suggest what is a workable system?
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